For Wyre’s existing API partners, savings wallets offer an additional revenue stream and an alternative onboarding tool.
Onboarding: As savings wallets are custodial, we are able to offer fee-less onboarding for small ticket transactions (no gas fees, no transaction fees)
Yield: Partners can choose how to divide yield between themselves and their users which makes this service a potentially powerful tool for monetization. Aside from customer funds, we can also ingest and pay yield on corporate funds.
Funds, foundations, and family offices can treat Wyre’s Savings as a high-yield money market account. Eligible OTC partners can bank transfer to Wyre and have their USD balances earn an 8% APY on USD holdings, paid out monthly or compounded during term.
OTC services for trading USD to BTC are also available, where cryptocurrency earns a yield asdenominated in the originating currency type (BTC-denominated interest).
The rate of yield creates an exciting new avenue for emerging fintech players to monetize their existing product lines. Using Wyre Savings on the backend, fintechs can explore novel business models & monetize user relationships.
Updated about 2 months ago